Polish-founded blockchain startup RedStone secures $350k from business angels

Blockchain startup RedStone has secured $350,000 of financing aimed at further product improvements from multiple business angels.

  • Founded in 2021 by Jakub Wojciechowski and Marcin Kazmierczak, RedStone is creating a multichain database that provides pricing information for smart contracts and DeFi protocols. 
  • The company has two data-focused products, RedStone Oracles and Warp. RedStone Oracles is a new generation of blockchain oracles with a novel architecture that optimizes the way data is delivered to decentralized Apps. And Warp is a data-processing Smart Contract layer on top of the Arweave data storage chain.
  • In 2022, RedStone managed to secure a $7 million seed funding round from Lemniscap. And in May 2023, RedStone raised an additional $350,000 round, from angel investors this time. The list included such names as Stani Kulechov, Sandeep Nailwal, Alex Gluchovski, Emin Gun Sirer, Jacob Blish, Marco Cora, Coinflipcanada, Patrick Dai, and Richard Ma.

“In the coming months, we will focus on the continuation and intensification of foreign expansion, acquisition of new customers, as well as product development while maintaining the highest safety standards. At the moment, we have enough funds to develop dynamically. For now, we are not thinking about the next round,”

Marcin Kaźmierczak, RedStone’s co-founder, comments on the deal.